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I would like suggestions on how to merge data from old parcel polygons to new redrawn polygons

Question asked by mojomapper on Oct 5, 2018
Latest reply on Oct 5, 2018 by mvolz47

Currently using 10.4 ArcMap desktop. Please see attached docs. I have currently redrawn an area (The lines in red) but now I would like to build the polygons (The polygons in green) to the new line work. 

In order to keep the attributes, I cut circles into the old polygons and erase the remainder. Next, I build a new polygon and merge the new polygon with the circular cut-out polygon which results with a new polygon that matches the new line-work

This works fine but when I adjust hundreds of parcels, this method is super slow. Any suggestions on a method to do this faster would be greatly appreciated.